v3.25.1

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Mar. 31, 2024
Income Statement [Abstract]
Sales	$ 121,653	$ 170,563
Cost of sales	78,323	107,768
Gross profit	43,330	62,795
Advertising and promotion expenses	8,172	8,683
Selling, general, and administrative expenses	21,205	20,979
Impairment of long-lived assets and other	0	116
Change in fair value of contingent consideration	14,700	4,100
Operating income (loss)	(747)	28,917
Interest expense, net	(1,854)	(2,019)
Other income (expense), net	215	(52)
Income (loss) before income taxes	(2,386)	26,846
Income tax expense	671	6,262
Net income (loss)	(3,057)	20,584
Net loss attributable to noncontrolling interest	33	51
Net income (loss) attributable to MGP Ingredients, Inc.	(3,024)	20,635
Income (loss) attributable to participating securities, basic	30	(239)
Income (loss) attributable to participating securities, diluted	30	(239)
Net income (loss) used in earnings per common share calculation, basic	(2,994)	20,396
Net income (loss) used in earnings per common share calculation, diluted	$ (2,994)	$ 20,396
Weighted average common shares
Basic (in shares)	21,342,531	22,142,277
Diluted (in shares)	21,342,531	22,142,277
Earnings per common share
Basic (in dollars per share)	$ (0.14)	$ 0.92
Diluted (in dollars per share)	$ (0.14)	$ 0.92

Amount of write-down of assets recognized in the income statement. Includes, but is not limited to, losses from tangible assets, intangible assets and goodwill.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Subparagraph (b)
-SubTopic 10
-Topic 230
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482740/230-10-45-28

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 45
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482130/360-10-45-4

MGP INGREDIENTS INC 10-Q